On June 1, 2017, the fund invested in a build-to-suit development of a senior housing facility that is leased to the largest independent living operator in the United States, Holiday Retirement. The executed lease will commence rent payments when construction is complete in May 2018 (forecasted). The lease was structured with a corporate rent guarantee, triple net expense basis and annual escalations based on CPI with a 2.50% minimum.
ABOUT THE TENANT: HOLIDAY RETIREMENT
PROJECT LEVEL RETURN
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